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promised so it's the estate tax plus a.m.t. plus keeping bush, plus lowering rates plus cutting capital gains taxes. you put them together, they add up to 5 trillion but in romney's mind his plan may be just saving the bush tax cuts or one of these five. >> what obama has done is landfalled onto a study that says because the math doesn't add up according to th experts, therefore what romney is going to do is raise taxes on the middle class. he goes around saying that as if it was romney's intent. that's not romney's intent. romney god -- got to say the president is the one who's not telling the truthecaui woul do . >> a romney advisor last week said we have two goals. one is deficit reduction, one is tax cuts. cuts ie w we'll do deficit reduction. gwen: there's anoth numbe $716 million to deal with medicare but it's coming from different places and going to different places and trefore th fin - of de u in a draw. >> for the president's health care plan, in order to fund it they assumed savings over 10 years of $716 billion for
promised so it's the estate tax plus a.m.t. plus keeping bush, plus lowering rates plus cutting capital gains taxes. you put them together, they add up to 5 trillion but in romney's mind his plan may be just saving the bush tax cuts or one of these five. >> what obama has done is landfalled onto a study that says because the math doesn't add up according to th experts, therefore what romney is going to do is raise taxes on the middle class. he goes around saying that as if it was romney's...
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Oct 6, 2012
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one is deficit reduction, one is tax cuts. if tax cuts get in the way, we'll do deficit reduction. gwen: there's another number. $716 million to deal with medicare but it's coming from different places and going to different places and therefore they find -- kind of ended up in a draw. >> for the president's health care plan, in order to fund it they assumed savings over 10 years of $716 billion for medicare. mitt romney called that a cut in medicare as if it was a cut in beneficiaries. it's meant to come from providers. however, what romney was saying is that if you take that much from providers, some of them are going to stop taking medicare parents. the trick for him is that paul ryan, his running mate, also assumed the same $716 billion. gwen: and i believe romney's answer to that was i'm the candidate. >> i'm the boss. we're going to put that money back into medicare. gwen: going into these debates we were all probably guilty of setting the expectations bar and it was pretty high for president obama. i think the polls before showed him like 51% thought he was going to win. 29%
one is deficit reduction, one is tax cuts. if tax cuts get in the way, we'll do deficit reduction. gwen: there's another number. $716 million to deal with medicare but it's coming from different places and going to different places and therefore they find -- kind of ended up in a draw. >> for the president's health care plan, in order to fund it they assumed savings over 10 years of $716 billion for medicare. mitt romney called that a cut in medicare as if it was a cut in beneficiaries....
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the stimulus was one-third tax cuts, big payroll tax cuts. plenty of tax cuts. >> very true. >> and for small business tax cuts, too. >> export boom, exports on a monthly basis have risen 50% from their low in march of 2009. the difference is that we have an economy in which rising demand doesn't necessarily translate into more jobs instantly because we're so good at being productive. we use machinery and software computers. the other big difference between now and the '40s and '40 50s the rest of the world had basically destroyed the rest of its capacity in world war ii so we made everything we wanted, cars, t-shirts, socks, televisions, electronics. we made that all here in the u.s., were consumed it. we exported it because nobody else was doing it. we are not going back to a world in which we will have a monopoly on industrial production. in fact, it's the opposite. everybody else now hats hardware to make all the stuff that we did, so it is much more of a challenge to just say, you know, we're going to do these sort of three things that w
the stimulus was one-third tax cuts, big payroll tax cuts. plenty of tax cuts. >> very true. >> and for small business tax cuts, too. >> export boom, exports on a monthly basis have risen 50% from their low in march of 2009. the difference is that we have an economy in which rising demand doesn't necessarily translate into more jobs instantly because we're so good at being productive. we use machinery and software computers. the other big difference between now and the '40s...
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Oct 10, 2012
10/12
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as far as the tax plan, look, he has said he will not pass a tax plan that is not deficit neutral. he's been very clear about this. his principles are do not change or modify the share of taxes paid at the upper income level, reduce the tax burden on the middle income level, cut rates across the board, particularly so you can create a more welcoming environment for small businesses, reduce the tax burden on small businesses, which are responsible for a disproportionate percentage of employment in this country, and you can do a lot of this by generating growth, getting rid of deductions, getting rid of a lot of the credits, getting rid of a lot of the loopholes and that is the plan he will put forward to congress. >> here's the thing. dan, here's the thing. nobody disputes that he intends to do some of this. what we don't know is how he intends to do it, and the specifics and until we get that, i think barack obama is perfectly entitled at the next two debates to take him on it, say hang on, you're cutting taxes by $5 trillion but what are you actually going to do to make up the $5
as far as the tax plan, look, he has said he will not pass a tax plan that is not deficit neutral. he's been very clear about this. his principles are do not change or modify the share of taxes paid at the upper income level, reduce the tax burden on the middle income level, cut rates across the board, particularly so you can create a more welcoming environment for small businesses, reduce the tax burden on small businesses, which are responsible for a disproportionate percentage of employment...
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Oct 7, 2012
10/12
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the governor -- former governor romney is proposing a 20% cut to income taxes, including income taxes for the wealthiest of americans. and, i believe a 30% cut for corporate income taxes, including big all, socking all of us at the pump, right now and any economist may debate whether it adds up to $4.9 trillion or $5 trillion and the fact of the matter. >> clayton: in this debate we saw big bird meet the big lie. those tax cuts, there are costs to those tax cuts, the biggest driver to our deficit... >> chris: if i may, sir, you are talking about half the planet like talking about obama's jobs plan, the entire plan is to give more money to teachers and, that is not obama's plans and similarly you are mischaracterizing the romney plan, saying, it is -- you are right, $5 trillion by lowering the tax rate but he talks about cutting loopholes... >> oh, chris, which loopholes and which deductions? senator, i doubt seriously you would be in favor of doing away or cutting the home mortgage deduction, for middle class americans. i mean, governor romney has not said what the secret plan is for
the governor -- former governor romney is proposing a 20% cut to income taxes, including income taxes for the wealthiest of americans. and, i believe a 30% cut for corporate income taxes, including big all, socking all of us at the pump, right now and any economist may debate whether it adds up to $4.9 trillion or $5 trillion and the fact of the matter. >> clayton: in this debate we saw big bird meet the big lie. those tax cuts, there are costs to those tax cuts, the biggest driver to our...
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Oct 7, 2012
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a constitutional spending commitment on a temporary tax. that's kind of uncertain, as well. >> belva: we have so many hot issues, we have to move to one that is really hot, because it is burning the pocketbooks of the people of the state, and that's gas prices that seem to be gone a bit wild. >> to a record price in san francisco today, probably around the state by tomorrow. the average price in the bay area is $4.55. that is 16 cents more than yesterday. 37 cents more than a week ago and 70 cents higher than a year ago. so, it is a huge problem for the state of california. there are six primary factors that are contributing to this and they are very important. one is the chevron refinery that's 1 out of 8 gallons of fuel in the state of california. that's out of service for many months to come there was a major pipeline that chevron owns and operates that has been shut down since the middle of september, out of service, denies amount of crude oil, cutting down on supply. there was a fire in southern california at an exxon refinery, not a f
a constitutional spending commitment on a temporary tax. that's kind of uncertain, as well. >> belva: we have so many hot issues, we have to move to one that is really hot, because it is burning the pocketbooks of the people of the state, and that's gas prices that seem to be gone a bit wild. >> to a record price in san francisco today, probably around the state by tomorrow. the average price in the bay area is $4.55. that is 16 cents more than yesterday. 37 cents more than a week...
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Oct 7, 2012
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he was very specific on the tax issue. >> he was specific in repudiating obama tax plan thought did he an excellent job of that. the president has been relying on a report that has been debunked left and right by people about how romney wants to raise taxes on the middle class in order to pay for tax cuts for the wealthy. he rebutted that very effectively i thought. but i would also like to see more details. >> paul: he gave a couple of details in regard to, for example, here is how you reduce deductions and exemptions, a $25,000 $50,000 limit that any one individual could use. that was specific offered by marty felled stein of harvard as a way to make tax reform work. >> and both of them embraced the simpson-bowles commission and the simpson-bowles commission put out three different tax rates and each rate you will have to do something with the deductions and exemptions, eliminate all of them or retain them and romney says i'm going to drop rates and put all of those deductions and exemptions on the table for negotiation. any serious person in politics knows that's the starting point
he was very specific on the tax issue. >> he was specific in repudiating obama tax plan thought did he an excellent job of that. the president has been relying on a report that has been debunked left and right by people about how romney wants to raise taxes on the middle class in order to pay for tax cuts for the wealthy. he rebutted that very effectively i thought. but i would also like to see more details. >> paul: he gave a couple of details in regard to, for example, here is how...
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Oct 8, 2012
10/12
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in fact, when you do those sorts of tax cuts there are costs to those tax cuts. the big etan drivegest driver r deficit -- >> chris: if i may, sir. you are talking about half of the planet it would be like talking about obama's jobs plans and saying the entire are plan is to give more money to teachers. it is not obama's plan. similarly you are mischaracterizing the romney plan. saying you're right there is $5 trillion lowering the tax rates but he talks about cutting loopholes. but that is part of the plan. >> but he won't say, chris, which loopholes and which deductions. senator, i doubt seriously you would be if favor of doing away or cutting the home mortgage deduction for middle class americans. governor romney has not said what the plan is for paying for the $5 trillion in tax cuts just like he won't talk about what his tax returns have been or -- >> with all due reis spect, governor, first of all, governor romney made is clear in the debate and he was actually able to speak directly to the american people that he is not going to lower the burdening on up y
in fact, when you do those sorts of tax cuts there are costs to those tax cuts. the big etan drivegest driver r deficit -- >> chris: if i may, sir. you are talking about half of the planet it would be like talking about obama's jobs plans and saying the entire are plan is to give more money to teachers. it is not obama's plan. similarly you are mischaracterizing the romney plan. saying you're right there is $5 trillion lowering the tax rates but he talks about cutting loopholes. but that...
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Oct 6, 2012
10/12
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taxes for the middle class, but linda mcmahon's tax plan gives mer a 7 billion dollar tax cut a programs for the middle class and seniors, and linda mcmahon never fought for the middle class. >> chris murphy attacks linda and social security and medicare, but murphy doesn't tell us when he was sued in court for not paying his rent, or paying his mortgage on committee hearings. do you think that murphy is telling the truth now? two facts, on march 2010, murphy vote today cut medicare 716 million dollars and linda mcmab policemened-- >> and pretty cookie cutter, i'm for the middle class and she's for the rich and cut grandma and throw her in the snow banks, who gets the best of the exchange. >> and she's way ahead, and polls her names recognition-- >> the polls are even. >> no in measuring the name recognition, way ahead and people are more familiar with her and helping her and she's also, apart from the negative campaigning about his background, she's also tapping into the economic anxiety in the state. which is significant. and she's talking about her ability to get -- create jobs and ha
taxes for the middle class, but linda mcmahon's tax plan gives mer a 7 billion dollar tax cut a programs for the middle class and seniors, and linda mcmahon never fought for the middle class. >> chris murphy attacks linda and social security and medicare, but murphy doesn't tell us when he was sued in court for not paying his rent, or paying his mortgage on committee hearings. do you think that murphy is telling the truth now? two facts, on march 2010, murphy vote today cut medicare 716...
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Oct 14, 2012
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10 years. >> there are not enough rich people and small businesses to tax to pay for the pending. next time you hear them say don't worry about. we'll get the wealthy people to pay their fair share watch out, the tax bill is coming to you. >> with us is dan, and collumist bill, and jason riley and washington columist kim strassel. >> he was doing what he was asked to do which is to energize the base. after the debate performance by obama. democrats were worried. but less so after the vice-presidential debate. that was joe biden's concern. >> how did he do that? >> he did that mentioning things that the democrats want the president. the fren percent . autobailout and he served up a lot of red meat. >> what about paul ryan. how did he hold up under the onslaught. >> paul ryan's job was to go in well dollar. everyone knew what was coming. joe biden lambasting him and his job was to go out and meet and refute and call them out on i and generally not put in big errors that dominant the discussion and check the romney campaign and he did do that. >> one of the features of the debate was
10 years. >> there are not enough rich people and small businesses to tax to pay for the pending. next time you hear them say don't worry about. we'll get the wealthy people to pay their fair share watch out, the tax bill is coming to you. >> with us is dan, and collumist bill, and jason riley and washington columist kim strassel. >> he was doing what he was asked to do which is to energize the base. after the debate performance by obama. democrats were worried. but less so...
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Oct 13, 2012
10/12
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jerry brown tax cut which was a flat tax rate on everyone. no progressivity and replacing all federal taxes with two flat rate taxes it was not revenue neutral and it had a little bit of positive revenue. i supported that all of the way because of the tremendous boon bye getting rid of the income tax and i think it would have been wonderful. we need to compromise on all of the issues but not until we have a good position. i don't want to compromise before we start the discussion. i think -- >> wait until the election. >> and then sit down with your people. you don't give away your fail back position before you start. >> we'll see. thank you very much. >>> and how the rest of the world, thank you. and how the rest of the world is viewing us and this and the back and forth and dismissing all of not that they are q. in great shape themselves. but we are hardly looking like fiscal jack lalanes. can what is happens over there happen over here? don't laugh and don't dismiss or go away. tdd#: 1-800-345-2550 let's talk about that 401(k) you picked up
jerry brown tax cut which was a flat tax rate on everyone. no progressivity and replacing all federal taxes with two flat rate taxes it was not revenue neutral and it had a little bit of positive revenue. i supported that all of the way because of the tremendous boon bye getting rid of the income tax and i think it would have been wonderful. we need to compromise on all of the issues but not until we have a good position. i don't want to compromise before we start the discussion. i think --...
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Oct 7, 2012
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he said 30% tax cuts on corporate taxes and he has a series of other tax cuts he's promised that add up to $4.8 trillion. he cannot name one loophole that he would close. if you took away all the loopholes for upper-income americans, every single one of them, he would still be trillions of dollarss short. me has to sock it to the middle class or explode the deficit. > deficit. >> reporter: what you're saying it it is unrealistic-- >> i'm saying it's impossible, not unrealistic. >> when president obama said in 2008 i'm going to cut the deficit in half, i'm going to close guilt me, people-- gitmo, people said-- did not sigh he was not telling the truth. >> closing gitmo involved congress and he couldn't get them to do that. the math, people over $200,000, and you still have a trillions of dollars hole, and he hasn't named the deductions he would close. this is a shell game, john. whichever shell you pick up, the middle class loses. the economy will lose, and i think that this is going to catch up with him. >> schieffer: what did the president think of his performance? >> i think the pr
he said 30% tax cuts on corporate taxes and he has a series of other tax cuts he's promised that add up to $4.8 trillion. he cannot name one loophole that he would close. if you took away all the loopholes for upper-income americans, every single one of them, he would still be trillions of dollarss short. me has to sock it to the middle class or explode the deficit. > deficit. >> reporter: what you're saying it it is unrealistic-- >> i'm saying it's impossible, not unrealistic....
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a trillion dollar tax cut for the very wealthy. i was there, i voted against them. i said, no, we can't afford that. now all of a sudden these guys are so concerned about the debt that they created. >> congressman? >> joe and i are from similar towns. he's from strain ton, pennsylvania and i'm from janesville, wisconsin. dewpoint hot unemployment rate was in strain ton today? >> sure do. >> do you know what it was when you came. >> did biden turn the tables and put the focus more on romney's agenda? >> paul ryan didn't get much of a chance to put the onus on biden for anything. look, i think he it go out there. he tried to the extent that he could while he was dodging the kitchen sinks that were coming at him to put some information out there, continue to further the romney agenda, the sort of positive vision for the economy you but he didn't get a big chance. that's something mitt romney is going to have to be aware of and get ready for as he moves into this debate with owe -- obama. obama won't go on the stage and make the style mistakes joe biden did. >> the answ
a trillion dollar tax cut for the very wealthy. i was there, i voted against them. i said, no, we can't afford that. now all of a sudden these guys are so concerned about the debt that they created. >> congressman? >> joe and i are from similar towns. he's from strain ton, pennsylvania and i'm from janesville, wisconsin. dewpoint hot unemployment rate was in strain ton today? >> sure do. >> do you know what it was when you came. >> did biden turn the tables and put...
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Oct 6, 2012
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when you compare the top marginal income tax rate, the tax rate that top earners get taxed over the highest threshold with employment, growth happens when taxes are higher, not lower. let me show you a chart that the president could have used this week to simplify the whole debate. this is what the election boils down to right here. larry bartels' chart makes it clear, under democratic presidents, everyone does better, even the very top. talk about trickle-down big government but more importantly, americans are ready to move on, even before the good news job numbers were released, an nbc/"wall street journal" survey showed that 44% of americans believe the economy will improve in the next year and four in ten say the country is headed in the right direction, the highest percentage on this question since june of 2009. here with me is cnbc contributor, dan dicker, a 25-year trading veteran of the new york mercantile exchange, civil right attorney mya wiley. attorney raul ruiz and a contributor to "the nation" magazine. thank you for being here. let me ask a question, does 7.8% wipe away wedne
when you compare the top marginal income tax rate, the tax rate that top earners get taxed over the highest threshold with employment, growth happens when taxes are higher, not lower. let me show you a chart that the president could have used this week to simplify the whole debate. this is what the election boils down to right here. larry bartels' chart makes it clear, under democratic presidents, everyone does better, even the very top. talk about trickle-down big government but more...
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Oct 6, 2012
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we have significant features of the individual income tax, corporate income tax, the estate tax, and apparel text which expire at the end of the year. in a deep sense, we don't know what our tax code is anymore. it would be nice if we emerged on the far side of the fiscal cliff with our leaders could get us back to a situation where we actually know what the tax code is. >> thank you. our next speaker -- speaker will be bob greenstein. >> there are two risks here. the obvious risk to the economy in the short term -- if we go over the fiscal cliff and the aggregate demand comes out of the economy that we will have a relatively mild recession in the first part of 2013 and we would be back and recovery by the second half of 2013. it would be a recession on top of where we are and that is not good. the bigger risk is the rest to the economy in the long term if we keep kicking the can down the road. how do we think about this? there's an interesting report that came out several months ago from the carlyle group. i want to briefly read what it includes. it says there will be a grand bargai
we have significant features of the individual income tax, corporate income tax, the estate tax, and apparel text which expire at the end of the year. in a deep sense, we don't know what our tax code is anymore. it would be nice if we emerged on the far side of the fiscal cliff with our leaders could get us back to a situation where we actually know what the tax code is. >> thank you. our next speaker -- speaker will be bob greenstein. >> there are two risks here. the obvious risk...
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he was right in saying 47% don't pay income taxes. you talk about lifting those people up so they can make it in america. that's what they want. they want to become taxpayers, and that's where he was totally wrong and tonal deaf. that's why i said that night, they're not victims. >> but his response right now is saying he was dplecompletely wr which is different than what he said earlier, saying he stated it ineloquently. >> i think what he was saying is he was completely wrong in speaking pejoratively of the 47%, and he was wrong to do that. he is wrong about the basic economics of our country. but we have gotten to a point where the country is paying no income taxes and taking advantage of the role of government. does that mean too high, too low? that's a good argument to get into. >> i'm utterly confused right now. >> you're only confused because he's trying to explain the comment from mitt romney, and now ari is trying to explain the new comment from mitt romney where he was very clear in saying he was wrong. ari, there is no need
he was right in saying 47% don't pay income taxes. you talk about lifting those people up so they can make it in america. that's what they want. they want to become taxpayers, and that's where he was totally wrong and tonal deaf. that's why i said that night, they're not victims. >> but his response right now is saying he was dplecompletely wr which is different than what he said earlier, saying he stated it ineloquently. >> i think what he was saying is he was completely wrong in...
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Oct 10, 2012
10/12
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WRC
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my tax reform plan to lower rates for the middle class and for small business creates seven million more. and expanding trade, cracking down on china, and improving job training takes us to over 12 million new jobs. i'm mitt romney, and i approve this message. ♪ ♪ [ male announcer ] combine the pnc cashbuilder visa credit card with a qualifying pnc performance select checking account and earn 75% more than cards earning 1% cash back on almost everything. >>> this is in fact a historic day in washington with the first home team play-off game in 79 years. >> although things didn't go too well for the nats today, the fans were celebrating the return of postseason baseball. pat collins is at nationals park where he watched the game with the fans. hi, pat. >> reporter: hi, doreen. hey, where is everybody? you know, this day of celebration turned into a night of concern. 8-0. 8-zip. what happened here? what went wrong? >> our pitching. we can't pitch all of a sudden. nobody can pitch. >> not enough confidence. that's the defending champs right there. not enough confidence. >> got to get th
my tax reform plan to lower rates for the middle class and for small business creates seven million more. and expanding trade, cracking down on china, and improving job training takes us to over 12 million new jobs. i'm mitt romney, and i approve this message. ♪ ♪ [ male announcer ] combine the pnc cashbuilder visa credit card with a qualifying pnc performance select checking account and earn 75% more than cards earning 1% cash back on almost everything. >>> this is in fact a...
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Oct 13, 2012
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you have the obama tax plan which obama plans to raise taxes on -- >> angela, what are you talking about? >> let's get to the facts. >> let's not jump to that because that could be a whole separate segment on that. so your feeling is -- angela, your feeling. >> what i wanted to answer is this, jamie, that she said that the vice president talked about the facts. and the bottom line is this. he didn't. he had a different type of reality. and instead of laughing and smiling, he should explain to the american people why he threw the intelligence community under the bus. but then when it came to iran. >> christie. >> ladies, please. ladies, please. the people at home want to hear what each of you have to say. christie, last remark, please, and please address the situation of what the vice president said concerning requests for security when those hearings were held in the very same week, and we all got the information. did he or did he not know that there were requests, including from the ambassador, for additional security? >> he was speaking on behalf of the white house. and the fact is tha
you have the obama tax plan which obama plans to raise taxes on -- >> angela, what are you talking about? >> let's get to the facts. >> let's not jump to that because that could be a whole separate segment on that. so your feeling is -- angela, your feeling. >> what i wanted to answer is this, jamie, that she said that the vice president talked about the facts. and the bottom line is this. he didn't. he had a different type of reality. and instead of laughing and...
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Oct 13, 2012
10/12
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CNN
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is my middle class tax cut going away, is my home mortgage deduction going away. that matters. >> did he mention he drank so much water? look at the montage here of at least seven occasions, which is not a whole lot by any means where ryan keeps on gluging in a very nervous, repetitive way. it's always the same technique. the lean over, long stare into the cup, boom. i was amazed he kept it all in. what did you make of his extraordinary water intake? because joe biden didn't drink at all. >> i think staying hydrated is really important. yeah, i think that joe biden has been in politics forever. he's very comfortable in a debate setting. paul ryan is a younger guy and i think he did a really great job holding his own in a debate that was predominantly foreign policy which has been joe biden's kind of wheelhouse during his entire long career in politics. you know, for me, for paul ryan to hold his own in that kind of environment, even if he's got to drink a lot of water to kind of keep cool and just stay level-headed, i think he did a good job. i'm proud that paul r
is my middle class tax cut going away, is my home mortgage deduction going away. that matters. >> did he mention he drank so much water? look at the montage here of at least seven occasions, which is not a whole lot by any means where ryan keeps on gluging in a very nervous, repetitive way. it's always the same technique. the lean over, long stare into the cup, boom. i was amazed he kept it all in. what did you make of his extraordinary water intake? because joe biden didn't drink at all....